JD.com ADR Stock News

J Sainsbury PLC's (LSE:SBRY) cancelled talks with JD.com about a potential sale of Argos further confirm how the grocery business is the "main driver of value" for shareholders, said analysts. Sreedhar Mahamkali at UBS, who raised his share price target on Friday, said the group has been focused on its Argos transformation programme to address growth and profitability challenges.

Shares in Sainsbury jumped to a four-year high on Monday after the UK supermarket group abruptly ended talks to sell its Argos chain to Chinese e-commerce giant JD.com. The stock rose more than 5% in early London trading, making it the top gainer on the FTSE 100.

J Sainsbury PLC (LSE:SBRY) has confirmed talks with China's JD.com Inc (NASDAQ:JD) about a potential sale of Argos, which it bought in 2016. The grocer put out a statement on Monday saying it has walked away from the talks.

British supermarket group Sainsbury's said on Sunday it has terminated talks with Chinese e-commerce giant JD.com over selling the Argos general merchandise retailer it bought for 1.1 billion pounds ($1.49 billion) in 2016.

British supermarket group J Sainsbury is in discussions with Chinese e-commerce giant JD.com about a potential sale of its Argos general merchandise business. The talks, confirmed by Sainsbury's on Saturday, come almost a decade after the retailer acquired Argos for £1.4 billion in 2016.

British supermarket group Sainsbury's is in talks regarding a potential sale of its Argos general merchandise business to Chinese e-commerce giant JD.com , it said on Saturday.

Equities swooned in both China and Hong Kong, led by semiconductor and tech hardware stocks, which had risen the most over the past weeks.

Chinese stocks are at decade highs after a rally powered by support from state-backed institutions and bigger investors, with retail money slowly making their way back into shares providing a fresh tail wind.